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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4996
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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If my company has no income year can I still claim VAT

Customer Question

If my company has no income for a year can I still claim VAT refunds. I would like to do this
Submitted: 1 year ago.
Category: Tax
Expert:  taxadvisor.uk replied 1 year ago.
Thank you for your question.You can claim VAT input on expenditure incurred wholly and exclusively for business even though there is no business income. This would result in VAT refunds to the business.You have to be aware HMRC VAT Office may wish to know why there is no income. I hope this is helpful and answers your question. If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.
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Expert:  taxadvisor.uk replied 1 year ago.

I thank you for accepting my answer.

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Best wishes.